With the advent of mass electronic communication and commerce, a need has arisen with respect to a simple way to transmit funds electronically for payment or other purposes in a completely secure manner. Prior electronic fund transfer approaches have a variety of flaws. FedWire is secure but not adaptable to routine applications. ATM network pins are widely available but not secure from electronic attack since they are typically four or five characters in length, which is insufficient to protect against brute strength attacks. Credit card networks have proven to be insecure from a variety of fraud attacks.